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Wednesday, April 30, 2014

Oriental Bank Q4 net up 0.8% on other income but provisions jump 23%Oriental Bank of Commerce reported net profit at Rs 310.3 crore in the quarter ended March 2014, up 0.8 percent compared to same quarter last year supported by higher other income and net interest income. Asset quality was stable but provisions increased during the quarter.TVS Motor zooms 6%, eyes growth in FY15 & new productsShares of TVS Motor surged 6 percent as it posted a net profit of Rs 52.1 crore in the quarter ended March 31, 2014 against a loss Rs 32.7 crore in the year-ago period. Launches and upgrades which the company had introduced across the scooter and motorcycle drove its revenue up 21 percent year-on-year to Rs 2,156 crore.Alstom Group shares in focus on plans to divest non-core assetsShares of Alstom Group companies – Alstom India Limited and Alstom T&D India have rallied up to 18% after parent company Alstom announced that it has received a binding offer from General Electric (GE) to acquire its energy business.Ranbaxy, Sun Pharma fall 2-3% as merger plans hit roadblockShares of Ranbaxy and Sun Pharma are under selling pressure as merger of both the companies are stuck in a legal roadblock . Both the stocks lost 2-3 percent as Andhra Pradesh High Court has asked stock exchanges as well as Securities and Exchange Board of India to maintain an interim status-quo on the merger.